J.J. Best Banc & Co. has been providing financing at auction to collector car buyers nationwide for three decades. We also work with many online auction sites and prepare and guide customers for auction purchases. We have an expert staff that is customer-oriented and knowledgeable about the many different types of classic cars. Whether we are onsite providing on the spot financing or handling it remotely, we can easily help you drive your dream home from an auction.
JJ Best’s firsthand auction knowledge gives buyers an advantage before the first bid is placed. Applying ahead of the auction gives our team time to review your application, discuss the financing range, down payment, and terms that may fit your budget. Our Auto FAQs answer additional questions about credit, income, and application requirements.
JJ Best we will help you arrive with a clear price limit and the confidence to move quickly if the right car comes up for auction.
Make the Most of Classic Car Auction Financing
Classic car auctions are highly memorable events that are fun for whole family! Many people dream of driving around in a beautiful classic car. Whether you prefer a ‘Cuda, Camaro, Corvette, Mustang, Porsche, Jaguar, Cadillac, BMW or something else entirely, JJ Best can finance your classic car auction dream purchase. We appreciate the appeal of classic cars, which is why we are in this business in the first place.
That appeal reaches across nearly every corner of the auto industry. Just about every carmaker has produced a classic vehicle at some point in its history, and collector-car auctions bring many of those makes, models, and styles together in one place. With so much variety on display, buyers have a real chance to find the car they came for, or the one they never expected to want.
We know that, for many, driving away from an auction in a classic car is a dream come true. For us, getting you into your dream car is the most important thing. This is why we offer exceptional customer service with our elegantly simple approval process. Once you start the approval process, you can be cleared for funding in as little as two minutes.
Apply for Financing Before Bidding
The best time to line up financing is before the auction begins. Applying early gives our team time to review your application, discuss the approximate financing range, down payment, and terms that may be available, and identify the documents needed before you bid. Preparing ahead of time makes the auction process a breeze. Once we have what we need from you we can issue a letter of credit. A letter of credit is what an auction company will require to register you to bid on their cars.
Depend on Our Classic Car Auction Financing
J.J. Best offers the best classic car auction financing in the business, with low interest rates, flexible payment plans featuring low monthly payments, and no prepayment fees. We work with you to write up a plan that works for everyone and lets you enjoy your time in the car of your dreams instead of worrying about payments and deciphering the terms.
One of the most important things for us is customer service. When you work with a JJ Best loan officer, you always come first. We approach each and every loan as an opportunity to help someone’s dreams come true. This is why we have so many outstanding reviews from satisfied customers all across the country. At some auctions you will have the opportunity to meet our loan officers in person where they can handle your finance needs right on the spot. Below is a partial list of auction sites we attend multiple times per year to provide onsite financing.
- Motorsport Auction Group, Reno, Nevada
- GAA Classic Car Auctions, Greensboro, North Carolina
- Carlisle Fairgrounds Collector Car Corral and Auction, Pennsylvania
- Antique Automobile of America, Hershey Park, Pennsylvania
- Premier Auction Group, Punta Gorda, Florida
- Vicari Auction, Biloxi, Mississippi
What Happens After You Win a Vehicle?
Once the gavel falls, contact your J.J. Best loan officer and provide the auction invoice or purchase agreement. We’ll also need the available vehicle, seller, VIN, and title information so we can review the purchase against your application.
If we are onsite at the auction, we can do everything in person in a matter of 15 to 20 minutes. If we are not onsite, it is important to contact your loan officer right away and let them know about your purchase.
You may be asked for certain documentation like proof of your down payment, identification, updated income records, insurance, or additional vehicle documents. Some cars also require collateral verification or an appraisal. The timeline depends on how quickly the paperwork is completed and whether the seller, auction house, and vehicle are ready for payment and release. If we are onsite at the auction, we generally turn it around in 30 minutes. If we are handling it remotely, it likely will take 24 to 48 business hours.
Auction Paperwork, Insurance, and Transportation
Paperwork can vary from one auction to another. Typically, the auction house will provide you with the title and invoice.
For an online auction purchase, buyers confirm who owns the vehicle, who will receive payment, what records the platform provides, and how the title will be transferred. The seller may also need to make the vehicle available for verification before payment is sent and the car is released.
The required insurance must generally be in place before loan proceeds are released. Coverage may include guaranteed value, liability, collision, and other full-coverage requirements, with J.J. Best Banc & Co. listed as lienholder or loss payee when needed. Our collector car insurance resource explains what to expect. We have a classic car insurance company that would be happy to help you access classic car insurance options.
Transportation should be arranged before the auction whenever possible. Buyers confirm the pickup deadline, storage terms, and coverage while the vehicle is in transit so a winning bid can move smoothly from payment to delivery. JJ Best does not arrange transportation but there are plenty of great options. In many instances, the organizers of the auction will have a preferred transportation company.
Classic Car Auction Financing Checklist
Before bidding
- Apply for financing
- Review your approximate financing amount and down payment
- Confirm that the vehicle may qualify
- Check auction fees and payment deadlines
- Gather the requested documents ahead of time
- Obtain a letter of credit from JJ Best
- Arrange insurance and transportation
After winning
- Contact your J.J. Best loan officer
- Send the invoice or purchase agreement
- Confirm the vehicle, seller, VIN, and title information
- Sign the loan documents
- Provide the down payment and insurance documents
- Coordinate payment and release
Frequently Asked Questions
Can I get pre-approved before a classic car auction?
Yes. Buyers can apply before the auction to review a possible financing amount and prepare a bidding budget. Final approval still depends on the borrower, vehicle, winning price, documentation, insurance, collateral review, and other lending conditions.
How early should I apply for auction financing?
Apply before bidding begins. Starting early leaves time for application review, document collection, budgeting, and questions about the vehicle or auction requirements.
What happens after I win a car at auction?
Contact your J.J. Best loan officer and submit the invoice or purchase agreement. You may also need to confirm the vehicle and title information, arrange insurance, complete verification, sign the final documents, and coordinate payment and release.
Does auction financing cover the buyer’s premium?
Buyer’s premiums and other fees vary by transaction. Confirm which costs may be included in the financing and which must be paid separately before deciding how much to bid. Generally, the buyers premium is part of the price of the car.
Can I finance a classic car purchased through an online auction?
Yes, online auction purchases are absolutely considered, subject to borrower and vehicle review. Seller identity, title records, purchase documents, collateral verification, insurance, payment procedures, and release arrangements can all affect the transaction.
Prepare for Your Next Classic Car Auction
Get your financing in place before the bidding begins. Applying early gives J.J. Best’s loan officers time to review your application, discuss the financing range, down payment, and terms that may be available, and help you prepare for the purchase before the right car comes up for auction.
Call 1-800-USA-1965, email cs@jjbest.com, or fill out our online application to get started. Approval, rates, and terms depend on credit, income, collateral, documentation, and other lending requirements.
Call us at 1-800-USA-1965, or fill out our online application form.